88
Cordlife Group Limited
Annual Report 2016
Notes to
The Financial Statements
for the financial year ended 30 June 2016
14. Intangible assets
Note
Customer
contracts
$’000
Brand
Goodwill
Club
member-
ship
$’000
Computer
software
$’000
License
Work in
progress
$’000
Total
$’000
Group
Cost:
At 1 July 2014
1,639
–
–
–
428
–
290
2,357
Additions
–
–
–
186
56
–
583
825
Exchange rate adjustments
–
–
–
–
7
–
–
7
At 30 June 2015 and
1 July 2015
1,639
–
–
186
491
–
873
3,189
Additions
–
–
–
176
601
–
549
1,326
Disposals
–
–
–
(176)
–
–
–
(176)
Transfer from work in progress
–
–
–
–
647
–
(647)
–
Acquisition of subsidiary
1,167
2,046
7,924
–
236
854
–
12,227
Exchange rate adjustments
10
18
85
–
2
9
–
124
At 30 June 2016
2,816
2,064
8,009
186
1,977
863
775
16,690
Accumulated amortisation:
At 1 July 2014
132
–
–
–
284
–
–
416
Amortisation for the year
132
–
–
–
95
–
–
227
At 30 June 2015 and
1 July 2015
264
–
–
–
379
–
–
643
Amortisation for the year
241
148
–
–
175
167
–
731
Acquisition of subsidiary
–
–
–
–
198
427
–
625
Exchange rate adjustments
–
(1)
–
–
3
3
–
5
At 30 June 2016
505
147
–
–
755
597
–
2,004
Net carrying amount:
At 30 June 2015
1,375
–
–
186
112
–
873
2,546
At 30 June 2016
2,311
1,917
8,009
186
1,222
266
775
14,686
Customer contracts
Customer contracts relate to the existing cord blood and cord lining banking service contracts of the
subsidiaries acquired, with useful lives ranging from 12 to 20 years.
Brand
Brand relates to the “Stemlife” brand name possessed by the acquired subsidiary, Stemlife Berhad, with an
amortisation period of 15 years.
